Commissions vehicle scrapping unit with its JV partner in Noida (UP)MARUTI - 8363 Change: 92.20 (1.11 %)
News: MSIL has commenced operations at its end-of-life vehicles (ELVs) scrapping and recycling unit set up as a JV i.e. Maruti Suzuki Toyotsu India Pvt Ltd (MSTI) with Toyota Tsusho Group. It has an annual capacity to process 24,000 vehicles and is a zero discharge facility built with globally recognised best practices to maximise scrap recovery.
Views: The new plant was built with an investment of Rs.44 crore with JV partners holding equal equity stake. It is a step in the right direction as currently there is a shortage of environment friendly scrappage centres in the organised space domestically. It will further help in realising government’s vision of phasing out unfit and polluting vehicles from the Indian roads. However given the size of operations at MSIL, the financial impact of it will be miniscule.